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Macy's said an employee intentionally made accounting errors totaling $132 million to $154 million. Auditing experts told BI the available evidence suggests a failure of internal accounting controls.
Macy's has launched an independent investigation, including forensic analysis, into the discrepancy and identified that a single accounting unit employee overseeing small package delivery expenses ...
The employee is no longer working at Macy's, the company said. Macy's delayed its third-quarter earnings, saying it is undertaking a forensic investigation into a single employee's concealment of ...
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The employee, whom Macy’s said is no longer with the company, “intentionally made erroneous accounting accrual entries” to hide small package delivery expenses. ... Bloomingdale’s fared ...
Macy's said Wednesday that it has tightened internal financial accounting measures after completing a probe of a rogue employee who hid $151 million in delivery expenses over a span of nearly ...
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The investigation found the employee (who is no longer working at Macy’s), had made one accounting mistake in late 2021, which snowballed into years of coverup, a person briefed on the probe ...